Whether a person is buying a car, filing tax reports, renting an apartment or running for political office, the establishment of their net worth is essential. Businesses must calculate net worth each time a financial report is filed. In order to arrive at an accurate estimate of net worth a person must know two basic [...]
Whether you are filing for bankruptcy pro se (without an attorney), or filing with a bankruptcy attorney’s assistance, you should have a current copy of your credit report. Everyone is entitled to one free credit report from all reporting agencies in any twelve-month period. There are three credit reporting agencies and you can request a [...]
If you have been through the bankruptcy process and received a discharge, you need to keep a close watch on your credit reports. It can take up to six months for your credit history to accurately reflect the outcome of your bankruptcy petition. Even then, you may find that some of the details are incorrect. [...]
Once you have been discharged from bankruptcy, it’s important to understand that the details of your bankruptcy petition are going to remain in your credit record for the next seven to ten years. This time frame starts from the date of your discharge, not from the date you filed your petition. It’s also important to [...]
A person’s credit history can be used for a number of things, not just assessing their credit worthiness. One area that is starting to concern consumer advocates is the use of credit checks as part of the pre-employment process. Considering the large number of people who are in default, it should concern them as well. [...]
Once an individual has been discharged from bankruptcy, they will find it difficult to obtain credit again. This barrier is caused by the record of your bankruptcy being filed on your credit record and it remains there for 8-10 years. There are a number of things you can do which may help you obtain credit [...]
One of the downsides to bankruptcy is the notation that is made on your credit history. This will remain in place for anything up to ten years and will affect any future credit applications. However, what of your current debts? What happens to them in regard to credit reporting during bankruptcy? In short – nothing. [...]
When filing for bankruptcy you will need to list every debt you have, not just the ones you can remember. This can be difficult, especially if you have defaulted loans that are a year or so old and the agency has stopped harassing you. Just because they stop harassing you doesn’t mean you no longer [...]
While a bankruptcy petition may help you escape a financial melt down, you have to be aware of the ramifications. The first and most obvious is that details of your bankruptcy are listed with credit reporting agencies. These details will stay on your credit report for a period of ten years. You should understand that [...]
